Moderate Income Purchase Assistance Program (MIPAP)

For first-time buyers purchasing a home in Arlington, the Arlington County Moderate Income Purchase Assistance Program (MIPAP) provides a deferred payment, no-interest loan of up to 25 percent of the home purchase price. The loan may be used to cover a portion of the down payment and all closing costs. The MIPAP loan acts as a second mortgage. The first mortgage must be a conventional loan from a lender approved by VHDA (Virginia Housing Development Authority).

MIPAP uses a shared appreciation model, which means there are no interest or monthly loan payments over the course of the loan. Instead, when a homebuyer chooses to sell or refinance the property, an appraisal of the property will be done to determine if the property has increased in value. If the property value has increased, the homebuyer would owe the County the original loan amount plus a proportionate share of the net appreciation (up to 25 percent).

The Low-Interest Mortgage Program assists homebuyers with low to moderate incomes to purchase in Arlington, by providing below-market-rate mortgages with as little as one percent down.